Former site of Lender’s Bagels in West Haven to be auctioned

Published 1:18 pm, Friday, September 4, 2015

Former bakery for sale - WH

Media: New Haven Register

WEST HAVEN >> For decades, until about 15 years ago, the big white building at Route 1 and Tuthill Street cranked out millions of Lender’s Bagels, the locally-founded company that introduced the now-ubiquitous round “roll-with-the-hole,” once just a Jewish thing, to households across America.

Built in 1946, the 63,100-square-foot building on 2-plus acres fronting the Boston Post Road (formerly Orange Avenue) was used for nearly a decade after that by Gold Medal Bakery.

But Gold Medal — one of the largest independent bakers in the country, and manufacturer of Fiber One bread products — moved production to Fall River, Massachusettes, in 2008. Since then, it has used the underutilized West Haven facility as a distribution hub, sales and marketing office. For four years, it also housed a thrift store.

After previosly listing the property for nearly $1.5 million, Gold Medal, which soon will vacate it, now has hired a New York company, AuctionAdvisors, to sell it at public auction with a comparatively low reserve price of $499,000.

The auction will take place on the property, which has 300 feet of frontage along Boston Post Road, at 11 a.m. Sept. 17.

Photo: Mark Zaretsky — New Haven Register

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The Gold Medal Bakery (formerly the Lender’s Bagels Bakery) at Route 1 and Tuthill Street in West Haven will be sold at public auction.

The Gold Medal Bakery (formerly the Lender’s Bagels Bakery) at Route 1 and Tuthill Street in West Haven will be sold at public auction.

Photo: Mark Zaretsky — New Haven Register

Former site of Lender’s Bagels in West Haven to be auctioned

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“This property is in excellent condition so there is a great opportunity for a company to use the building or for a developer to reposition it, considering the large amount of acreage and extensive frontage along the highway,” said Oren Klein, managing partner of AuctionAdvisors.

“While this property was last on the market for close to $1,500,000, the reserve price at auction has been set at only $499,000, so this represents a significant opportunity for a variety of interested bidders,” Klein said in a release.

“It’s going to be a great opportunity for somebody at a fraction of the price — what is it, like 66 percent off the $1.5 million,” Klein said in a subsequent interview. “Even if you’re not in the market for a bagel factory, the location is excellent.”

The property also includes a small, .23-acre lot across Tuthill Street that Gold Medal uses for truck parking, he said. The bakery itself has six truck dock doors and is fully sprinklered, he said.

“I think it’s good” that it’s being sold, said Mayor Ed O’Brien. “I’m glad that they’re moving forward to get the property in the hands of somebody that will do something with it.

“I’m glad that they’re going hopefully to transfer it to a new owner that hopefully will make it a viable and useful new business,” O’Brien said.

“This stretch of Boston Post Road is experiencing a lot of activity right now” said Fred A. Messore of Colonial Properties Inc., who is working with AuctionAdvisors on the sale of the property.

“Nearby major retailers and the proximity to I-95 make this a prime acquisition target for anyone in the marketplace,” Messore said.

Joshua Olshin, also managing partner of AuctionAdvisors, said that “while the property has been on the market for a while, the seller chose this method of sale because it will bring a much needed definitive closing date so they may make expansion plans for their business, which will remain in the West Haven area.”

Olshin said “any buyer looking for a property like this in the marketplace, either as a user or developer, would be remiss not to take a long and hard look at this opportunity. With the reserve price this low, we are hoping to surface a wide range of potential purchasers who will bring new vision and purpose.

Anyone seeking more information about the property and the auction, or who wants to schedule an inspection, can go to the AuctionAdvisors website or contact Klein at oklein@auctionadvisors.com or 1-800-862-4348, ext. 703.

Interested bidders must present a $25,000 deposit at the sale to participate.